Welcome back to The Breakdown with me, NLW.

It's a daily podcast on Macro, Bitcoin, and the Big Picture Power Shifts remaking our world.

What's going on, guys? It is Sunday, August 20th, and that means it's time for Long Read Sunday.

Before we get into that, however, if you are enjoying The Breakdown, please go subscribe to it,

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breakdown pod. Hello, friends.

Welcome back to another dose of long reads Sunday.

Now, today's essay is a topic that I feel very strongly about.

It's one that comes up quite frequently on the show, and it's about progressivism and Bitcoin.

Now, Bitcoin has, of course, had a historic reputation as a bastion for libertarians,

and there are lots of reasons why that is. Holding aside the early adopter group, which often

intersected with that political cohort, the fact of the matter is, Bitcoin and all of the

cryptocurrencies that follow it did take something that has for hundreds of years been

the province of governments, i.e. money creation, and put it in the hands instead, not only of

private citizens, but really of this totally new type of force, which is a math-based protocol.

Inherently, then, there is a power-limiting aspect to it relative to government, and so it's

perhaps not a surprise that it's

more historically been associated with the right, which again typically favors smaller government

than the left, which has more confidence in the government to help be involved in producing

a better world and environment for citizens. That said, Bitcoin and crypto had, until very recently,

done a pretty remarkable job of staying

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